Wells Fargo & Company Has Lowered Expectations for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its price objective decreased by equities researchers at Wells Fargo & Company from $420.00 to $335.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.56% from the company’s previous close.

Other analysts have also issued reports about the stock. Barclays restated an “overweight” rating and set a $410.00 price objective on shares of Tyler Technologies in a research note on Friday. BTIG Research cut their price target on shares of Tyler Technologies from $560.00 to $470.00 and set a “buy” rating on the stock in a report on Monday. Robert W. Baird set a $660.00 price objective on shares of Tyler Technologies in a report on Friday, October 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $543.00 price objective (down from $671.00) on shares of Tyler Technologies in a research report on Friday. Finally, TD Cowen reiterated a “buy” rating on shares of Tyler Technologies in a research note on Wednesday, February 4th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $556.29.

Tyler Technologies Stock Up 5.6%

Shares of NYSE TYL traded up $15.97 during trading on Friday, reaching $303.01. The company had a trading volume of 474,385 shares, compared to its average volume of 640,553. Tyler Technologies has a 12-month low of $283.71 and a 12-month high of $650.97. The business’s 50-day moving average is $426.51 and its 200 day moving average is $488.26. The stock has a market cap of $13.04 billion, a PE ratio of 41.87, a P/E/G ratio of 2.29 and a beta of 0.91.

Insider Activity at Tyler Technologies

In other news, Director Glenn A. Carter sold 500 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the transaction, the director directly owned 3,172 shares in the company, valued at $1,455,091.56. This trade represents a 13.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction on Monday, December 15th. The stock was sold at an average price of $448.51, for a total value of $448,510.00. Following the completion of the sale, the chief financial officer directly owned 17,148 shares of the company’s stock, valued at $7,691,049.48. The trade was a 5.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,500 shares of company stock worth $1,605,605 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TYL. Meridian Wealth Management LLC increased its position in shares of Tyler Technologies by 2.1% during the 2nd quarter. Meridian Wealth Management LLC now owns 942 shares of the technology company’s stock valued at $558,000 after purchasing an additional 19 shares during the last quarter. Cerity Partners LLC grew its position in Tyler Technologies by 0.6% during the second quarter. Cerity Partners LLC now owns 2,959 shares of the technology company’s stock valued at $1,754,000 after buying an additional 19 shares during the period. Nordea Investment Management AB grew its position in Tyler Technologies by 0.6% during the second quarter. Nordea Investment Management AB now owns 3,537 shares of the technology company’s stock valued at $2,068,000 after buying an additional 20 shares during the period. Signaturefd LLC increased its holdings in Tyler Technologies by 3.9% during the third quarter. Signaturefd LLC now owns 613 shares of the technology company’s stock valued at $321,000 after buying an additional 23 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in Tyler Technologies by 2.0% in the third quarter. Coldstream Capital Management Inc. now owns 1,167 shares of the technology company’s stock worth $611,000 after acquiring an additional 23 shares during the period. Institutional investors own 93.30% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.